Douglas Stephens has been named president and chief executive officer of Houston-based Frank’s International. The appointment was effective today, Nov. 15.
The company maintains a strong presence in the Acadiana area, despite the now two-year-long decline in oil prices that has taken a devastating toll on the oil and gas industry. The downturn is hitting Frank's hard; in October the company confirmed at least the fifth round of cuts since March 2015.
Luquette will remain with the company through Dec. 31, then serve in a supervisory role until shareholders vote on Stephens in May.
Stephens most recently was president of the global pressure pumping division of Baker Hughes, responsible for its worldwide tubular running and pressure pumping business. Before joining Baker Hughes, he held various positions of increasing responsibility for over 20 years with Schlumberger Limited, including assignments in the United States, Oman, Italy, Egypt and the United Kingdom.
Stephens has more than 25 years of international and domestic oil field service experience in a wide variety of environments. He started his career as a field engineer in Italy with Schlumberger and spent the first several years working in operational and front line management roles in continental Europe, the North Sea, North Africa and the Middle East.
Stephens led the Europe, Africa and CIS region before moving back to North America where he assumed a wide variety of responsibilities. Over the span of his career he has been involved in almost all aspects of the oil field service industry, including sales and marketing, product development, human resource management and executive leadership positions. Stephens has been a leader in a wide variety of services and technologies, including managing a global TRS business, and has lived in 10 different countries.
Stephens earned a degree in applied science in mechanical engineering from the University of British Columbia in Vancouver, Canada. He and his family reside in Houston.